Weekly Cash Comments
Cash Commentary for week ending July 10th
Grain basis was mostly stable this week as farmer selling was limited following the sell-off in futures after the June 30th USDA report. On average across the US, both corn and soybean basis was mostly unchanged.
In corn, flooding in Missouri and southern Illinois continues to take its...[Read More]
The market is trading higher this morning with anticipation for the July WASDE report. See the expectations below.
In the overnight session the grains continued higher with corn up 3 cents, soybeans up 8 1/4 cents and wheat trading 6 1/2 cents higher. The U.S. dollar is trading 1 percent lower and crude oil is up 48 cents this morning. Keep in mind that the July Supply and Demand report will be released...[Read More]
How Much Will Tomorrow’s WASDE Report Really Affect the Market?
Cody reviews export sales and what to expect from WASDE report.
Markets Move Higher
The grain markets move higher this morning as traders prepare for the WASDE report scheduled out on Friday and as China equity markets stabilize.
In the overnight session the grains traded higher with corn up 2 3/4 cents, soybeans up 14 1/4 cents and wheat up 6 1/4 cents. The U.S dollar is up a fraction of a percent and crude oil is up $1.50. Traders will be positioning themselves for the July WASDE report which will be released out...[Read More]
Bullish News from the Grains
Worldwide news proved mostly bullish for the markets. Cody reviews ethanol production, export sales, and yield estimations.
Grains Mostly Steady
The grains were mostly steady to slightly lower this morning as China's Shanghai Index sells off sharply on Wednesday.
In the overnight session the grains traded marginally lower with corn down 1 cent, wheat down 5 1/2 cents and soybeans down 1 1/4 cents. The U.S. dollar is trading down 1/3rd of a percent and crude oil has fallen 21 cents. A reportable sale of 240,000 metric tons of new crop soybeans was...[Read More]
Improving Crop Conditions?
Cody takes a look at crop condition, planting pace, and next week's weather.
Grains Lower on Better than Expected Crop Conditions
Grains trading lower in the overnight session.
In the overnight session the grains are trading lower with corn down 6 3/4 cents, soybeans down 5 1/4 cents and wheat down 9 1/4 cents. The US dollar is trading nearly 1 percent higher and crude oil is up 8 cents.
Analysts were expecting corn good-to-excellent ratings to decline by 1...[Read More]